Ag News: Pork Production Down in China

**Two of China’s major pork producers sharply cut 2018 profit estimates, after African swine fever devastated prices and demand for pork in the world’s largest hog producer in the second half of the year.

Agweb.com reports, Muyuan Foods cut its 2018 net profit forecast to roughly $73-million, down at least 20% from an earlier estimate in October, and down nearly 80% from 2017.

With approximately 100 outbreaks of ASF in China since August, these warnings of lower profit estimates were not a major surprise.